Uganda, World Bank Pledge Stronger Cooperation to Accelerate Development Projects
KAMPALA – The Minister of Finance, Planning and Economic Development, Henry Musasizi, has reaffirmed Uganda’s commitment to strengthening its partnership with the World Bank to accelerate the implementation of development projects and drive the country’s socio-economic transformation.
Speaking after meeting the World Bank Division Director for Kenya, Rwanda, Somalia and Uganda, Mr. Qimiao Fan, over the weekend, Musasizi said the discussions focused on Uganda’s key development priorities, addressing implementation bottlenecks and enhancing collaboration between the Government and the World Bank.
”We deeply appreciate the World Bank’s continued partnership and commitment to Uganda’s socio-economic transformation,” Musasizi said.
He noted that the long-standing partnership between Uganda and the World Bank has played a pivotal role in supporting the country’s development agenda through investments in transport infrastructure, agriculture, energy, education, health, water and sanitation, social protection, governance and institutional development.
According to the minister, these investments have significantly contributed to economic growth and improved the livelihoods of millions of Ugandans.
Musasizi revealed that Uganda’s World Bank-funded portfolio has grown to USD 4.72 billion, reflecting the Bank’s continued confidence in the country’s development agenda.
However, he expressed concern over the current project disbursement performance rate of 32 percent, attributing the low absorption of funds to challenges on both the Government’s and the Bank’s sides.
”The Government and the World Bank must work together more closely to ensure that project performance improves drastically,” he said, adding that all World Bank-supported projects should be aligned with the Government’s ATMS priorities and other key development enablers.
The minister also commended the World Bank team for successfully concluding the Country Partnership Framework, describing it as a shared strategic roadmap that will guide cooperation between Uganda and the Bank over the coming years.
He said the framework aligns with Uganda’s priorities, including enhancing domestic revenue mobilization, investing in productive infrastructure, promoting value addition and boosting export growth.
The meeting reaffirmed the commitment of both the Government of Uganda and the World Bank to deepen their collaboration and improve the effectiveness of development programmes aimed at delivering inclusive and sustainable economic growth.
